Insight by Oppy

AKOGUN IYIOLA OYEDEPO This write-up is about leadership as experienced in Kwara State between 1999 and now. Within a space of twenty-six years, we had conducted seven national elections in the State. I think it is believed by many people that seven is a number of perfection. But how come that even the product of the seventh election is now the climax of our bad governance thus far?  But then, if we emerged from military dictatorship in 1999 and democracy was not only new and strange to those that had lived their lives under a long period of military dictatorship; it is time we examine our democratic journey thus far. It is this examinations that will enable us to know whether we are making progress or not. It is also such that will show us the future direction for alternative actions for hope that will create a new reality. If our democratic journey is not examined, the tendency is that we shall take for development, this our macabre dence on the same spot come 2027, wh...

At the opening of the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees (WAAPAC), I, Hon. Tajudeen Abbas, Speaker of the House of Representatives of Nigeria, addressed a subject of great importance: the role of public debt in national development. Some media reports have unfortunately misrepresented my words. For clarity, I share here the real message delivered at WAAPAC: 🔹 Public debt, when managed prudently, can be a ladder to growth and prosperity, but when mismanaged, it becomes a chain that drags nations into economic bondage. 🔹 Under the leadership of President Bola Ahmed Tinubu, GCFR, Nigeria is charting a new course through a bold non-oil revenue drive. Remarkably, for the first time in decades, our nation has met its 2025 revenue target ahead of schedule, without reliance on borrowing. This demonstrates that with discipline, focus, and courage, we can reduce dependence on external loans and secure economic so...

On June 26, 2025, Nigeria introduced four transformative tax laws designed to modernize administration, ease compliance, and incentivize investment: Nigeria Tax Act, 2025 (NTA) Nigeria Tax Administration Act, 2025 (NTAA) Nigeria Revenue Service (Establishment) Act, 2025 (NRSEA) Joint Revenue Board (Establishment) Act, 2025 (JRBEA) Key Policy Highlights: SME Support: 0% tax for small companies (turnover ≤ ₦100m & fixed assets < ₦250m). Corporate Tax Relief: A reduction from 30% ➝ 25% for large companies (subject to Presidential Order on NEC’s recommendation). Top-up Tax Safeguards: Applied only above ₦50b revenue for local firms & €750m for multinationals. Investment Incentive: 5% annual tax credit for projects in designated priority sectors. Currency Flexibility: Taxes on FX transactions payable in Naira at the prevailing official exchange rate. Phased Commencement: • NTA & NTAA – January 1, 2026 • NRSEA & JRBEA – June 26, 2025 These reforms mark a major ...

This note seeks to clarify matters arising regarding the 5% fuel surcharge in the new tax laws. The charge is not a new tax introduced by the current administration. The provision already exists under the Federal Roads Maintenance Agency (Amendment) Act, 2007. Its restatement in the new Tax Act is for harmonisation and transparency rather than immediate implementation. We outline the frequently asked questions below and provide clarifying explanations. 𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐭𝐥𝐲 𝐀𝐬𝐤𝐞𝐝 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐐1. 𝐈𝐬 𝐢𝐭 𝐭𝐫𝐮𝐞 𝐭𝐡𝐚𝐭 𝐓𝐢𝐧𝐮𝐛𝐮’𝐬 𝐚𝐝𝐦𝐢𝐧𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐢𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐞𝐝 𝐚 5% 𝐬𝐮𝐫𝐜𝐡𝐚𝐫𝐠𝐞 𝐨𝐧 𝐟𝐮𝐞𝐥? A1. No. The surcharge is not new. It already exists under the Federal Roads Maintenance Agency (Amendment) Act, 2007 (FERMA Act). The new Tax Act only restates it for harmonisation and transparency. Hence, it was not part of the original tax reform bills submitted by the president to the National Assembly. 𝐐2. 𝐃𝐨𝐞𝐬 𝐭𝐡𝐢𝐬 𝐦𝐞𝐚𝐧 ...

●AKOGUN IYIOLA OYEDEPO● Perhaps man would have preferred to live alone undisturbed by others, if it would have been safe to do so. But Thomas Hobbes in his book, Leviathan, penned the evergreen state of man in the state of nature. His evergreen statement of man’s life in the state of nature is “solitary, poor, nasty, and short”. I thought deeply about this claim of 16th century British philosopher.   One can imagine billion of men on earth living alone outside community or society. This means man will not be gregarious, there will be no social interactions that will depend on compassion, love and understanding. Man will depend on might for survival and everyone will be for himself and individuals will provide for his or her own needs especially, security. In such state of nature, there would be no life enhancing opportunities like all means of transportation, housing, social interaction, etc, as we have in modern life. The imaginary life in the state of nat...